• NEWS
    • INVESTIGATIVE NEWS
    • CRIME
    • POLITICS
    • Coronavirus Live Updates
    • Archive
  • LIFE & SOCIAL
    • Lost Pets
    • Obituaries
    • Events & Entertainment
  • ENTERTAINMENT
  • COMMUNITY FORUM
  • BUSINESS DIRECTORY
  • SHOP
    • Advertise with Us
    • Advertising Options
  • LOGIN
    • My Profile
    • My account
    • Subscribe
  • ABOUT US
    • Contact Us
Tuesday, March 2, 2021
Register
Login
No Result
View All Result
TurlockCityNews.com
COVID-19 News Updates
No Result
View All Result
TurlockCityNews.com
No Result
View All Result
Home Life & Social Real Estate

Realtors Say Turlock Home Values To Increase, Stabilize

by Jonathan McCorkell - jonathan@turlockcitynews.com
March 31, 2014
in Real Estate
0 0
0
Courtesy of John Oushana|

|

Share on FacebookShare on Twitter

The National Association of Realtors expects a nationwide increase in home prices over the next year, especially in California.

According to the latest results of the Realtors Confidence Index, a monthly survey of 50,000 real estate practitioners, Californians should expect to see home values increase a minimum of 5 to 7 percent this year.

Kris Klair, EXIT Realty Chief Executive Officer and Director of the California Association of Realtors, says prices in the Central Valley and Stanislaus County are essentially stabilizing from the crash, leading to the sudden 30 to 40 percent increase in home values in 2013.

“Less than 1 out of every 7 homes is now short-sale or bank-owned, so we are seeing an increase of traditional sales and sellers are selling up. For example, in the last five years if a house was worth $180,000 to $200,000 maybe now it is worth $280,000 or $290,000. Sellers are bumping up a little bit to $300,000,” he said. “Any buyers will pay that little extra because interest rates are still low.”

ADVERTISEMENT

Another Turlock Realtor, John Oushana of Atlantic Realty, says “Our brokerage has had several meetings since the beginning of 2014 regarding the local market stabilization and the solid increase in home values.”

“We are seeing first-time home owners who bought a few years ago at the bottom (of the market) now looking to sell again and move into bigger homes. With still very low interest rates, there are still high demand of buyers out there” he said.

Buyers are jumping at the historically low interest rates, which are currently hovering near 4.5 percent. During the boom years of the early 2000s the interest rate was 6 to 7 percent.

In 2013 a shortage of inventory, coupled with the surge in buyers, led to a historic increase in home values which is unlikely to repeat.

“Home buyers cannot afford to have the market increase another 30-40%, as we are slowly seeing that first-time home buyers are being omitted from the market due to the increase in home values. For example, Stanislaus County FHA loan limits have been reduced to $276,000.00 from $423,750.00. Interest rates are still at record lows,” Oushana said. 

Tags: HomeHouseIncreaseRealtorsSaleSellStabilizeValues
Previous Post

Staley’s Club Patron Cut By Attacker With Weapon

Next Post

Around Turlock – March 30

Next Post
Kailey Fisicaro/TurlockCityNews.com|

Around Turlock - March 30

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Comments

  • 안전카지노 on Kaepernick Loses in Semifinals of Madden Cover Vote
  • koi cbd zen on THS Class of 2014 Looks to Build On Experiences
  • Lamadrid on Subject Found in Shoplifter’s Vehicle with Meth, Both Arrested
  • film on Harder Campaign Denies Alleged Slander Against Howze, But There’s a Recording

Take Us With You

Real-time updates and all local stories you want right in the palm of your hand.

TURLOCK CITY NEWS APP

SUBSCRIPTIONS

Start a Subscription

LEARN MORE

About Us

Contact Us

News Home

Archives

ADVERTISING

Advertising Information

Place Obituary or Lost Pet

Post Business Directory Listing

Place a Online Ad

© 2021 TurlockCityNews.com | Anything & Everything Turlock

No Result
View All Result
  • Subscribe
    • Advertise with Us
  • Login
  • Home
  • News
    • Coronavirus Live Updates
  • Life & Social
  • Crime
  • Around Turlock
  • Events & Entertainment
  • Obituaries
  • Lost Pets
  • Job Watch
  • Campus News
  • Local Vocals
  • Investigative News

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In